Beazer Homes USA, Inc. (NYSE:BZH) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Tuesday. The brokerage currently has a $15.00 price target on the stock. Zacks Investment Research’s target price points to a potential upside of 13.64% from the stock’s current price.
According to Zacks, “Beazer Homes USA, Inc. designs, builds and sells single family homes. The company designs homes to appeal primarily to entry-level and first move-up home buyers. Their objective is to provide customers with homes that incorporate quality and value. The company’s subsidiary, Beazer Mortgage, originates the mortgages for the company’s home buyers. “
Other equities research analysts have also issued reports about the company. Wedbush started coverage on Beazer Homes USA in a research report on Monday, December 5th. They issued a “neutral” rating and a $15.00 price target for the company. FBN Securities lowered Beazer Homes USA from an “outperform” rating to a “sector perform” rating and dropped their price target for the company from $13.50 to $11.50 in a research report on Monday, October 10th. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $13.88.
Shares of Beazer Homes USA (NYSE:BZH) traded up 0.84% during midday trading on Tuesday, reaching $13.20. The company’s stock had a trading volume of 625,661 shares. The stock’s 50-day moving average is $13.87 and its 200-day moving average is $11.24. Beazer Homes USA has a one year low of $6.07 and a one year high of $15.80. The company has a market capitalization of $419.96 million, a P/E ratio of 91.67 and a beta of 3.00.
Beazer Homes USA (NYSE:BZH) last posted its quarterly earnings results on Tuesday, November 15th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.67 by $0.70. The company earned $632.10 million during the quarter, compared to analysts’ expectations of $637.02 million. Beazer Homes USA had a net margin of 0.26% and a return on equity of 3.83%. Beazer Homes USA’s revenue for the quarter was down .1% on a year-over-year basis. During the same quarter last year, the company earned $0.97 earnings per share. On average, equities analysts expect that Beazer Homes USA will post $0.96 earnings per share for the current fiscal year.
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In other Beazer Homes USA news, Director Brian C. Beazer acquired 3,000 shares of the stock in a transaction that occurred on Monday, November 21st. The stock was bought at an average cost of $12.99 per share, for a total transaction of $38,970.00. Following the completion of the transaction, the director now owns 69,015 shares of the company’s stock, valued at approximately $896,504.85. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Larry T. Solari sold 15,027 shares of the stock in a transaction that occurred on Monday, December 5th. The stock was sold at an average price of $13.38, for a total value of $201,061.26. Following the completion of the transaction, the director now owns 7,128 shares of the company’s stock, valued at $95,372.64. The disclosure for this sale can be found here. 7.60% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of the company. BlackRock Inc. raised its position in shares of Beazer Homes USA by 503.7% in the second quarter. BlackRock Inc. now owns 13,729 shares of the company’s stock valued at $107,000 after buying an additional 11,455 shares during the last quarter. Acrospire Investment Management LLC raised its position in shares of Beazer Homes USA by 14.7% in the third quarter. Acrospire Investment Management LLC now owns 10,115 shares of the company’s stock valued at $118,000 after buying an additional 1,300 shares during the last quarter. Neuberger Berman Group LLC acquired a new position in shares of Beazer Homes USA during the second quarter valued at $126,000. Verition Fund Management LLC acquired a new position in shares of Beazer Homes USA during the third quarter valued at $143,000. Finally, Fox Run Management L.L.C. acquired a new position in shares of Beazer Homes USA during the third quarter valued at $170,000. Institutional investors own 85.37% of the company’s stock.
About Beazer Homes USA
Beazer Homes USA, Inc is a geographically diversified homebuilder. As of September 30, 2016, the Company had operations in 13 states within over three geographic regions in the United States. The Company’s segments include West, East and Southeast. The Company markets and sells its products through its Website, www.beazer.com; mobile site, m.beazer.com; real estate listing sites, online advertising, including search engine marketing and display advertising, social media, video, brochures, direct marketing and out-of-home advertising, including billboards and signage, as well as other activities.
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